Simpson Capital’s service is right for all account types of people large or small, young or old, rich or not so rich and individuals or institutions. This notion is based on the philosophy SCM uses to treat your holdings as a whole rather than discrete bundled techniques.
All Account Types
It works for someone at a large broker who is looking for more personal service and won’t settle for advice which is only suitable. It works for the beginning investor who’s too timid or doesn’t think they have enough money to go to the big firms. First timers and sophisticated ones are welcome.
Our vision is to make the process fruitful and ‘user friendly’ for all account types, thus adding value to your pursuit of hopes and dreams. Our mission is to build a clear plan, express their intent and act on the plan with good old stock and bond.
Simpson Capital manages virtually all accounts types which allow trading of individual issues of stocks, bonds, electronic traded funds (ETF) and mutual funds. Below are the more common types managed by Simpson Capital.
Account Held at Third Party
We start by setting an account up an account at a large, third-party institution. This account is a single investment account which offers easy access to a wide range of investments and built-in cash management features. It has no annual account service fees and no minimum balance requirements.
In addition, it can be given easy access to cash and a full complement of premium checking services. The following features are available
- Account protection
- Direct deposit
- Free check writing
- Debit cards
- Bill pay service
- ACH money transfer®
- Transfers within other accounts
- Taxable Investment Account a standard account where income and gains are fully taxable
- Estate account An estate account can be opened to manage the assets of a decedent’s estate during the course of probation, prior to the distribution of assets to the estate beneficiary(ies).
- Custodial Accounts An account established and managed by an adult for the benefit of a minor. The account is established under the Uniform Gifts to Minors Act (UGMA) or the Uniform Transfers to Minors Act (UTMA) and is used to pass irrevocable gifts to a minor or as a savings account for the child.
Individual Retirement Accounts (IRAs)
- Traditional IRA — A traditional IRA can be contributory, rollover, or spousal.
- Roth IRA — An individual retirement account featuring post-tax contributions with tax-free growth. Your client’s ability to contribute to a Roth IRA depends on his or her adjusted gross income.
- Custodial IRA — A traditional or Roth IRA account established for a minor who has earned income. The custodian must be at least 18 years of age.
- Inherited IRA Also known as a beneficiary IRA, an inherited IRA is available to any designated beneficiary upon the death of the original IRA holder.
- 403(b)(7) custodial account Prior to 2007 — employees of tax-exempt charitable, educational, or religious institutions offering 403(b) plans could transfer their plan assets to a 403(b)(7) custodial account in order to broaden their investment choices.
- 529 College Savings Plans — a state-sponsored education savings program that allows individuals, regardless of their income or state residency, to set aside assets in a tax-deferred account to pay for a student’s post-secondary education.r
- Health Spending Accounts
Small Business Retirement Accounts
- SEP IRA a simplified employee pension plan is one of the easiest small business retirement plans to set up and maintain. You can make sizable contributions and there’s little administration. Tax filing isn’t required and yearly contributions can vary, and even be skipped. SEP-IRA plans consist of an employer account and a separate participant account. Employers make tax-deductible contributions to the separate accounts for themselves, and for eligible employees
- SIMPLE IRAs a retirement plan for small businesses with up to 100 employees. Two account types—employer and participant—work together to form a SIMPLE IRA.With this plan, eligible employees can fund their own accounts through regular salary deferrals, and employers can supplement employee accounts with annual contribution
- QRPs commonly known as a Keogh, consists of three different account types: a money purchase plan, a profit-sharing plan, and a paired plan. These plans allow for large annual contributions, making them appropriate for clients with high, stable incomes and few to no employees. SCM services and maintains existing plans and allows employers to add new participants to their existing QRP.
- Defined Benefit Plans a personal defined benefit plan is a retirement solution for high-earning small-business owners. This plan offers participants a specific monthly lifetime benefit amount at retirement. Contribution amounts with this plan are calculated and adjusted annually to reach the targeted goal. This plan is best for professionals age 50 or over who can make annual contributions of $80,000 or more for at least five years and who have few if any employees.You may prefer this plan to a defined contribution plan because it allows aggressive savings in a short time frame with maximum tax deductible.
- Trust Account A trust is a fiduciary arrangement in which one party, a trustor, appoints a trustee to manage assets for the benefit of one or more beneficiaries for a designated amount of time or until specified requirements are met. A trust may be in effect during the trustor’s lifetime (living or inter vivos trust) or it may be created through a decedent’s will (testamentary trust)
- Organization Account An organization is a legal entity that has been authorized by a state government to conduct business in that state. You can open a domestic incorporated or non-incorporated organization account for organizations governed by U.S. jurisdictions.
- Joint tenants with rights of survivor-ship A joint tenancy or joint tenancy with right of survivorship (JTROS, JTWROS or JT TEN WROS) is a type of concurrent estate in which co-owners have a right of survivor-ship, meaning that if one owner dies, that owner’s interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. The deceased owner’s interest in the property simply evaporates and cannot be inherited by his or her heirs.
Defined Benefit Plans
401Ks and SEP IRAs
457s and 403Bs